The proposed Coconut Farmers and Industry Trust Fund Act or Coco Levy Act, which will pave the way for the release and the utilization of the P100-billion coco levy fund, will lapse into law next week. This is 30 days since the enrolled copy of the Coco Levy Act has been sent to Malacanang on...
The enactment of the Financial Institutions Strategic Transfer (FIST) law, which is expected to free up over P1 trillion worth of banks’ soured loans and non-performing assets and assist 600,000 micro, small and medium enterprises (MSMEs), will ensure the stability of the local financial system...
The Securities and Exchange Commission (SEC) is seeking public comments for the draft Implementing Rules and Regulations (IRR) of Republic Act No. 11523 or the Financial Institutions Strategic Transfer (FIST) Act, a critical economic measure in the Philippines’ economic recovery. In a...
Business organizations lauded the enactment of Financial Institutions Strategic Transfer (FIST) Act into law as timely stating the new law would further aid in the recovery of the Philippine economy, which has been battered by long lockdowns and quarantines due to the pandemic. The Philippine...
The Bureau of Immigration (BI) has reminded foreign nationals registered with it that they have only until March 1 to appear in person before the agency for their 2021 annual report. Bureau of Immigration (BI) (MANILA BULLETIN) BI Commissioner Jaime Morente said the submission of annual report will...
The proposed Coconut Farmers and Industry Trust Fund Act or Coco Levy Act, which will pave the way for the release of the P100-billion coco levy fund, is just awaiting the signature of President Rodrigo Duterte. Business Bulletin learned that the copy of the Coco Levy Act has already been sent to...
The Congress-ratified Corporate Recovery and Tax Incentives for Enterprises (CREATE) Act will relax the ‘tax regime’ to be enforced for operators of oil refining facilities in the country. With that re-calibrated taxation policy in the CREATE measure, it was noted that the perturbed state of...
The Corporate Recovery and Tax Incentives for Enterprises (CREATE) Act can bring in over P200 billion in new investments and generate as much as 2 million additional jobs, according to Trade and Industry Secretary Ramon M. Lopez. According to Lopez, the bicameral approved CREATE will be a big boost...
The Bangko Sentral ng Pilipinas (BSP)-led Financial Inclusion Steering Committee (FISC) is strongly urging the quick approval of the proposed Open Access in Data Transmission Act and the signing of an executive order (EO) for satellite-based internet connectivity to accelerate the country’s shift...
Amendments to the data privacy law in the Philippines to address compliance and accountability of organizations will help ensure protection of personal data amid an expected worsening of breaches as more employees work remotely. According to Kevin Shepherdson, CEO and founder of Straits...
Small Business Corporation or SBCorp., the government’s micro financing arm, has released more than P2 billion or 20 percent yet of the P10 billion allocation under the Bayanihan to Recover as One Act or Bayanihan 2 for the micro small and medium enterprises (MSMEs) as of the first week of...
The Philippine government is hoping to end the more than a decade of non-compliance with the Agri-Agra Act, which requires private banks to lend a portion of their funds to farmers and fishermen. This, as the government finally issued the amended implementing rules and regulations (IRR)...
